MONEY & BANKING
PENSION PLANS
SEBI clears NSDL application
Mumbai, Aug. 22 The SEBI board has decided to clear the application of National Securities Depository Ltd, (NSDL) to act as a central record-keeping agency (CRA) under the new pension scheme of PFRDA. Earlier, SEBI had rejected NSDL’s ...
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INSIGHT
Solving the Impossible Trinity
The government should not try to curb the flow of dollars (as debt) into India. The RBI should be relieved of its burden of controlling the exchange rate. We should introduce full capital account convertibility to ensure that the rupee can be traded anywhere, and exporters will not need to sell their dollars in India, reducing the inflationary pressure this activity currently generates, says RAGHUVIR MUKHERJI
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FOREX
Rupee lower in volatile trade
The forex market saw volatile movement on Thursday with the rupee ending about 13 paise lower against the previous close against the dollar. Domestic factors such as the stock market movement and rumours of instability at the Centre affected ...
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TECHNOLOGY
German co to market coin handling system in India
Mumbai, Aug. 23 Giesecke & Devrient GmbH, a German company specialising in providing international technology services, is set to expand its product range for currency processing systems in India by introducing coin handling systems. ...
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SOFTWARE
PSU insurers told to have CIS system by Sept
Ministry asks them to emulate Oriental model
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LIFE INSURANCE
LIC readying plan for girl child
The Life Insurance Corporation (LIC) is in talks with several State Governments on introducing an insurance scheme for the girl child. "We have devised a tailor-made insurance scheme for the Karnataka Government, specially for girl children ...
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DERIVATIVES MARKETS
Banks, PDs to report interest rate swap trades from Aug 30
Move to bring in more transparency, better price discovery
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Financial derivatives solution
Pyxis Systems, a provider of derivative solutions, has launched Ionpot, a Web-based solution for financial derivatives. The solution is priced at at Rs 4 lakh on an annual subscription basis. Ionpot allows the user to price, save and mark to ...
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RBI & OTHER CENTRAL BANKS
Farm loans up to Rs 50 k may get service tax waiver
Small and marginal farmers availing agriculture loans up to Rs 50,000 need not pay any service charge and need not deposit land documents at bank branches. These are some of the recommendations of the group set up by the Reserve Bank of India ...
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All borrowers to get documents in loan agreement
Mumbai, Aug. 23 It is now mandatory for banks to provide a copy of the loan agreement including all enclosures to the borrower. In a notification issued to banks, the Reserve Bank of India said: “Banks and financial institutions are ...
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GOVT BONDS
Bond prices fall by 10 paise
Bond prices fell by around 10 paise reacting to the looming political uncertainty of the Left withdrawing its support to the government. Total traded volumes on the order matching system were Rs 6,110 crore (Rs 7,440 crore). Dealers said that ...
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MORTGAGE
Has Fed discounted the financial market crisis?
How does a central bank provide relief in the face of a financial market crisis? Does it act to provide liquidity on the liabilities side of the balance-sheet of financial intermediaries? Or does it perform the “lender of last resort” ...
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MERGERS & ACQUISITIONS
Standard Chartered to acquire 49% stake in UTI Sec for Rs 147 cr
Has option to raise stake by another 25%
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INTERVIEW
Continuity is the theme of new CMD of Indian Bank
‘Hub & spoke model for loan processing is working well’
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PEOPLE
Corpn Bank appointment
Mr N.R. Shet, who was working as Deputy General Manager of Personnel Administration Division at the corporate office of Corporation Bank, has been promoted as General Manager of the bank. A bank release said here on Thursday that he has since ...
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